KARACHI: The cotton market has witnessed bullish trend in trading as spinners paid higher prices for quality lint.
According to the floor brokers, the expected late arrival of next crop is also forcing many spinners to build their position. Many deals were finalised at a record seasonal high price at Rs5,800 per maund, but most of them were conditional.
The Karachi Cotton Association (KCA) spot rates were firm at previous level.
The following deals were finalised on ready counter: 400 bales from exporter mill done at Rs5400, 2500 bales mill to mill at Rs5575, 600 bales Multan at Rs4850 to Rs5500, 400 bales Ghazi Ghat at Rs5550, 400 bales Shahair Sultan at Rs5550, 600 bales Alipur at Rs5550, 600 bales Haroonabad at Rs5600, 144 bales Vehari at Rs5600, 1000 bales Khanpur at Rs5765 (conditional) at Rs5765 and 200 bales Bahawalpur at Rs5800 (conditional).
